Olema reports FY2022 net loss of $104.8M, restructures to focus on OP-1250 Phase 3

Olema Pharmaceuticals, Inc.

Net loss of $104.8M for FY2022, vs $71.1M in FY2021.
Cash and securities $204.4M at Dec 31, 2022, expected to fund operations into 2025.
Workforce reduced by ~25% to focus on late-stage development of OP-1250; CBO leaving, CRO stepping down from role.
Initiating first pivotal Phase 3 trial of OP-1250 in 2H 2023 for ER+/HER2- metastatic breast cancer.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Olema Pharmaceuticals, Inc. reported the quarter ended December 31, 2022 results: net income $26.2 million.

Period: the quarter ended December 31, 2022
Net income: $26.2 million
Result: reported results

Exact text from the filing

Net loss was $26.2 million and $104.8 million for the quarter and year ended December 31, 2022, respectively

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Olema Pharmaceuticals, Inc. reported the year ended December 31, 2022 results: net income $104.8 million.

Period: the year ended December 31, 2022
Net income: $104.8 million
Result: reported results

Exact text from the filing

Net loss was $26.2 million and $104.8 million for the quarter and year ended December 31, 2022, respectively

View on SEC.gov

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Source: SEC EDGAR

accession 0001558370-23-003309

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